1 / 20

Golden Dreams Bike Rental and Repair Store

Golden Dreams Bike Rental and Repair Store. Team A David Dong Kelvin Manbir Amy Mohammad. Introduction. Golden Dreams Bike Rental Owned by Adam Craig Nester’s Market Strip Mall Been in business for 1 year. Main Problems. Not enough clients during the winter season

lot
Download Presentation

Golden Dreams Bike Rental and Repair Store

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Golden Dreams Bike Rental and Repair Store Team A David Dong Kelvin Manbir Amy Mohammad

  2. Introduction • Golden Dreams Bike Rental • Owned by Adam Craig • Nester’s Market Strip Mall • Been in business for 1 year

  3. Main Problems • Not enough clients during the winter season • Lack of advertisements in central locations • Limited variety of bikes

  4. Facts • 80% rental capacity in June, July and August • 50% in September and October • 10% for rest of the year • Currently have advertisements in: • Pique and Whistler Question • Free weekly papers • Yearly cost: $5000

  5. Assumptions • Dude Taylor stays employed at the store • Technology is unchanged • No other bike shops open in the area

  6. Competitive Analysis • Competition: • Large bike shop • Strengths: • Located at Whistler Mountain Bike Park • Caters to hotels and individuals

  7. SWOT: Strengths • Large inventory space • Dude Taylor for bike repairs and maintenance • Only bike store in the Nester’s Market Strip Mall

  8. SWOT: Weaknesses • Currently have 2 broken bikes • Limited capital for expansion • Store hours can be revised • Limited variety of bikes

  9. SWOT: Opportunities • Rent town centre location • More space and better car traffic • Move to Function Junction • Cater to local market and home owners • Larger than current location • Rent is lower, but may increase • Close to new Whistler Creek development

  10. SWOT: Threats • Weather leading to low demand • Winter season • Competition • Large bike shop • If move to alternative locations: • Higher rent • New competition

  11. Target Market • 16-30 year olds • Male and female • Sports-loving families • Risk takers • Health-conscious people • Weekenders

  12. Recommendations • Relocation • Diversify products • Promotion

  13. Relocation • Advantages: • Bigger market (new target market) • More inventory space • Easier access • Disadvantages: • Higher expenses (i.e. rent) • More competition • Possibility of bankruptcy

  14. Diversify Products • Advantages: • More potential customers • More stable revenue during winter season • Make use of idle inventory space • Disadvantages • Don’t know if products will have market • More competition (i.e. Ski shop) • Need more staff to look over new products

  15. Promotion • Advantages: • Reach and attract more customers • Free advertisements on the web • Can create free website for store • Disadvantages: • More costs for advertisements • Some customers and markets are not responsive

  16. Solution • Establish a new mission statement • Provide new service to community for sports lovers (i.e. bike training) • Diversify his products • Have more variety of products for people of all experience levels • i.e. beginners to experts • Establish customer excellence • i.e. more public events for bikers

  17. Plan of Action

  18. Plan of Action • Establish a mission statement • Schedule a training program for new and beginner bikers • Create public events for bikers (i.e. contests)

  19. Plan Action • Setup a website and advertise on social media websites • Have winter products available i.e. ski bikes, toboggan, sleds

  20. Course Concepts • Diversification • Market penetration • STP • SWOT • Customer excellence • Marketing mix

More Related